Options Bulls Rush Macy's Stock After Quarterly Win

Call volume is running at seven times the intraday average amount

Digital Content Manager
Nov 16, 2023 at 12:40 PM
facebook X logo linkedin

Unlike its sector peer Walmart (WMT), retail stock Macy's Inc (NYSE:M) is surging today, up up 5.7% at $13.33. The department store operators' third-quarter earnings easily bested analysts' expectations, while revenue came in above estimates as well, despite a 7.7% year-over-year dip. Contributing to this win were lower inventories and strong demand for beauty products.

Macy's stock is today trading at its highest level since August, and eyeing its first close above the 100-day moving average for the first time since March. The security has also blown past overhead pressure at the $13 level, which rejected a rally earlier this month. M is still down 35.3% this year.

M 100 Day

So far today, 86,000 calls and 41,000 puts have crossed the tape, volume that's seven times the intraday average amount. Most popular is the November 14-strike call, with the 14.50-strike call in that same series not trailing far behind, and new positions opening at both.

Options traders have been bullish of late, per the security's 50-day call/put volume ratio of 2.71 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 84% of readings form the past 12 months. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI